A Tale of Two Cities

Corporate Branding Brilliance or Luck

March 19, 2014

Corporate Branding Decision

Decision Criteria !  Cost !  ROI

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Branding Example #1

!  2006: Citi paid $400M over 20 years for naming rights to the New York Mets new stadium

!  2008: Citi laid off 75,000 employees !  2008: Citi took $476B in public cash and guarantees during

financial crisis

Citi Field name was a slap in the face to all of us

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Branding Example # 2

!  2012: Citi paid $41M for Citi Bikes – 10,000 bicycles in 600 stations across NYC

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May 2013

!  Citi Bank is visionary, innovative and advocates for sustainability

–  4.7M trips taken –  9.4M miles rode –  Critics silenced

!  Favorable impressions of Citi increases 17 points –  +12 points for innovation –  +12 points for social responsibility

!  Celebrity rides –  Leonardo Dicaprio

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But What If…

!  Bikes did not meet expectation – Low ridership – Racks were eyesores

!  Multiple accidents – Negative publicity – Possible lawsuits

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Lessons

!  Even well considered decisions may not work for factors beyond your control.

!  Increases visibility creates magnified success or magnified failure.

!  Even identified risks cannot be mitigated

Successful branding requires a dose of luck so don’t take all the credit

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Key Takeaway

!  Successful branding requires thoughtful analysis, planning, execution and some degree of luck

!  Don’t depend on luck to overcome poor analysis, planning and execution.

!  If things workout really well, enjoy the success but don’t take all the credit.

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